NIO (NYSE:NIO) Downgraded to Hold Rating by Hsbc Global Res

NIO (NYSE:NIO - Get Free Report) was downgraded by equities researchers at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. HSBC cut NIO from a "buy" rating to a "hold" rating in a research report on Tuesday. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Daiwa America raised shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $5.71.

NIO Stock Performance

NIO traded down $0.19 on Tuesday, reaching $4.32. The company had a trading volume of 49,283,995 shares, compared to its average volume of 52,629,699. The stock has a 50-day moving average price of $4.65 and a 200-day moving average price of $4.80. The stock has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. NIO has a 1 year low of $3.61 and a 1 year high of $7.84. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. FMR LLC increased its position in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. raised its position in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in NIO in the third quarter valued at $4,879,000. Quadrature Capital Ltd grew its stake in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC increased its holdings in shares of NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock valued at $6,401,000 after purchasing an additional 370,556 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.